by Kipp Gillian | May 18, 2023 | Industrial
Transwestern Real Estate Services brokered a 49,545-square-foot lease for Vivion Inc. at 15500 S. Main St., Building B in Gardena. The location will be used as Vivion’s regional distribution hub. Vivion, a subsidiary of Operio Group, is an ingredients distributor...
by Kipp Gillian | May 18, 2023 | Retail
Progressive Real Estate Partners closed the $6-million sale of South Sierra Plaza, a 17,250-square-foot unanchored strip center located at 10660 South Sierra Avenue in Fontana. The 12-unit center traded at a 6.6% cap rate based on 93% occupancy. President Brad...
by Kipp Gillian | May 17, 2023 | Industrial
The Opus Group began construction on the third and final building at Tollway Corporate Center, an industrial development in North Aurora, IL, within Chicago’s Interstate 88 submarket. The 408,195-square-foot project is a joint venture with Principal Asset...
by Kipp Gillian | May 17, 2023 | Industrial
A joint venture of PCCP, LLC and Endeavor Development announced the next phase of development at Arbor Lakes Business Park in Maple Grove, MN, within the Twin Cities. This phase includes a two-building, Class A industrial project totaling 406,000 square feet. ...
by Kipp Gillian | May 17, 2023 | Industrial
The Greenbrier Companies, Inc., based in Lake Oswego, OR, has completed the sale of its Gunderson Marine operations to Oregon Green Manufacturing, LLC (OGM). Gunderson Marine operates within a 58-acre industrial waterfront site in Portland, which OGM has acquired. The...
by Kipp Gillian | May 17, 2023 | Multifamily
Seattle Mayor Bruce Harrell recently announced the city’s yearly funding awards for affordable housing providers, totaling $147 million for the construction and preservation of 1,150 affordable homes in neighborhoods across Seattle. The investments will...
by Kipp Gillian | May 17, 2023 | Retail
DRA Advisors has hired brokers at Mid-America Real Estate and Cushman & Wakefield to sell 18 shopping centers in Chicago and its suburbs, reported Crain’s Chicago Business. It’s among the biggest local retail portfolios to hit the market in a long time. New York...
by Kipp Gillian | May 17, 2023 | Industrial
BKM Capital Partners, a vertically integrated institutional fund manager headquartered in Newport Beach, has added 10 properties to its portfolio in four recent transactions valued at more than $280 million. The deals involve more than 1.1 million square feet of light...
by Kipp Gillian | May 17, 2023 | Multifamily
Avenue One, a proptech service platform and marketplace for residential homes, has announced a strategic funding round of $100 million. The round is led by WestCap, an early investor, and includes participation from MetLife and other leading investors. The...
by Kipp Gillian | May 17, 2023 | Industrial
Marcus & Millichap has announced the sale of 125 Broad Ave., a three-building industrial property in North Bergen, New Jersey, for $11.1 million. The property, constructed in 2004 on 2.86 acres, comprises 21 units with two loading docks, 26-foot ceiling height, 21...
by Kipp Gillian | May 17, 2023 | Industrial
Generichem Corporation, a pharmaceutical company, has signed a 27,500 square feet corporate office and distribution facility lease in the Towaco section of Montville Township, New Jersey. Located at 425 Main Road, the facility is owned, built, and managed by...
by Kipp Gillian | May 17, 2023 | Multifamily
Marc Resnick has purchased 1342 St. Lawrence Avenue, a multifamily building in the Soundview section of the Bronx, from Sam Zherka for $4.150 million. The building was constructed in 1928 with 29 units and an antenna. It spans approximately 20,620 square feet...
by Kipp Gillian | May 17, 2023 | Industrial
Lisa MacKay has joined Thornton Tomasetti’s New York Transportation team as vice president. With over 30 years of experience, MacKay specializes in the design, inspection, rehabilitation, and management of transportation and infrastructure projects for...
by Kipp Gillian | May 17, 2023 | Industrial
Greystar and Consigli marked the topping-out of 74M, 17-story, 465,000-square-foot life science building in Somerville’s Assembly Square district. Somerville Mayor Katjana Ballantyne attended the event. 74M will be a purpose-built lab development targeting...
by Kipp Gillian | May 17, 2023 | Retail
Bialow Real Estate has promoted Andrew Jaffe and Andrew Mahr to partner positions, joining founder and CEO Corey Bialow in leading the national retail tenant representation and consulting firm. With a focus on expanding the business, the trio will work with national...
by Kipp Gillian | May 17, 2023 | Multifamily
Miami-based Cymbal DLT Companies secured a $95 million loan from Kookmin Bank and Related Fund Management Related Fund Management for Oasis Pointe Residences. The 2.4-acre 301-unit waterfront complex in Dania Beach opened eight months ago and is 97-percent leased....
by Kipp Gillian | May 17, 2023 | Retail
Pine Tree has been appointed the management of two retail assets in the Washington DC area, Cityline at Tenley and Burke Town Center. Invesco Real Estate owns the properties. Located in the Washington DC metropolitan area, Cityline at Tenley and Burke...
by Kipp Gillian | May 17, 2023 | Industrial
MDH Partners has acquired a two-building, industrial portfolio across the Atlanta and Memphis markets. It includes Desoto Logistics Center, a 445,138-square-foot building located near Memphis, and Great Valley Commerce Center Building 1, a 973,218-square-foot building...
by Kipp Gillian | May 17, 2023 | Multifamily
Dwight Capital closed a $45 million HUD 223(f) loan for Kinstone Columns Drive, a 384-unit apartment community located in Marietta, GA. The property sits on more than 30 acres. It consists of 29 three-story buildings, three townhome buildings, two pool bathhouses, and...
by Kipp Gillian | May 17, 2023 | Multifamily
Getting from point A to point B in a subdivision is pretty important. San Antonio is close to providing some key roadways that will allow two westside projects to realize their potential. Tres Laurels, a 300-acre subdivision in the works by San Antonio-based Mosaic...
by Kipp Gillian | May 17, 2023 | Retail
Construction begins in July on a $70 million bottling plant that will create 70 jobs. Niagara Bottling 1.2 million-square foot industrial project will be on 70 acres at 1535 E. Belt Line Rd., south of I-20. The Diamond Bar, California-based bottled water manufacturer...
by Kipp Gillian | May 17, 2023 | Multifamily
Prices start at $3 million. The project is valued at $1.3 billion. Four Seasons Hotel and Resorts, in partnership with Azure Resorts & Hotels and Luxus Developments, will build a 171-unit luxury condominium development in Henderson, Nevada. Completion is scheduled...
by Kipp Gillian | May 17, 2023 | Hotel
Shivam Khanna recently secured the area OHM Fitness representative rights to Texas and will bring 70 locations to the state, including 25 in Dallas Fort Worth, 20 in Austin and San Antonio, and 25 in Houston. Khanna plans to open up to 25 locations himself, and is...
by Kipp Gillian | May 17, 2023 | Hotel
A Houston real estate developer has announced the opening of two hotels, side-by-side, both branded Hyatt. Satya looked after the construction of a Hyatt Place and Hyatt House at the Houston Medical Center. The 350,000 square-foot hotel duo is the first dual-branded...
by Kipp Gillian | May 17, 2023 | Retail
Lake Texoma may one day be the site of a 3,000 acre master-planned community. The project, which straddles the border of Texas and Oklahoma is slated to include a resort hotel, retail, restaurants, an upscale marina, and about 7,500 homes and rental units. The Dallas...
by Kipp Gillian | May 17, 2023 | Multifamily
Lake Texoma may one day be the site of a 3,000 acre master-planned community. The project, which straddles the border of Texas and Oklahoma is slated to include a resort hotel, retail, restaurants, an upscale marina, and about 7,500 homes and rental units. The Dallas...
by Kipp Gillian | May 17, 2023 | Hotel
Lake Texoma may one day be the site of a 3,000 acre master-planned community. The project, which straddles the border of Texas and Oklahoma is slated to include a resort hotel, retail, restaurants, an upscale marina, and about 7,500 homes and rental units. The Dallas...
by Kipp Gillian | May 17, 2023 | Retail
What was once a 7,000-acre cattle operation founded in the mid-1800s could soon be the site of a $400 million project, which will expand the high-end Clearfork mixed-use development along Chisholm Trail Parkway. This spot is projected to double in size as the new home...
by Kipp Gillian | May 17, 2023 | Multifamily
What was once a 7,000-acre cattle operation founded in the mid-1800s could soon be the site of a $400 million project, which will expand the high-end Clearfork mixed-use development along Chisholm Trail Parkway. This spot is projected to double in size as the new home...
by Kipp Gillian | May 17, 2023 | Hotel
A $70 million luxury hotel recently opened in Aurora’s Fitzsimons Innovation Community. The Denver Business Journal reports that The Benson Hotel and Faculty Center is hoping to be a “living room” of sorts for the medical campuses nearby and...
by Kipp Gillian | May 17, 2023 | Affordable Housing
Steve Protulis Towers. Image courtesy of Yardi Matrix Florida is now the nation’s fastest-growing state, according to Census data, with a 1.9 percent demographic expansion between 2021 and 2022. The expanding population is putting increased pressure on its affordable...
by Kipp Gillian | May 16, 2023 | Multifamily
Newcastle Limited promoted Gunner Schnowske to managing director, asset management. Since joining the firm as an associate in 2007, Schnowske has taken on increasing levels of responsibility. As the head of Newcastle’s asset management function, Schnowske...
by Kipp Gillian | May 16, 2023 | Hotel
A joint venture between Gencom and GD Holdings has acquired the newly opened, 192-key St. Regis Chicago, which occupies the first 11 floors within a three-tower development in downtown Chicago’s Lakeshore East neighborhood. The acquisition price wasn’t disclosed....
by Kipp Gillian | May 16, 2023 | Retail
Urban Edge Properties has signed a new lease close to 60,000 square feet at Bruckner Commons in The Bronx, New York, bringing retailers, restaurants, and other tenants to open in the next 12 months. The roster of new tenants includes grocery stores Aldi,...
by Kipp Gillian | May 16, 2023 | Retail
Maryland-based retailer Tim’s Furniture Mart has signed a lease with Simon Property Group for 67,320 square feet of space at Hagerstown Premium Outlets in Hagerstown, Maryland. Tim’s Furniture Mart plans to open its store in the 485,000-square-foot...
by Kipp Gillian | May 16, 2023 | Affordable Housing
A rendering of the project. Image courtesy of Gov. Kathy Hochul’s office Two interconnected, mixed-income residential towers with nearly 700 apartments, including 281 affordable units, are being built in Upper Manhattan’s Inwood neighborhood. The $461 million...
by Kipp Gillian | May 16, 2023 | Hotel
It’s already one of the worlds biggest airports; the size of Manhattan. And today it announced it is getting much bigger. Dallas-Fort Worth International Airport is moving forward with a long-awaited sixth terminal. The $1.6 billion first phase will include...
by Kipp Gillian | May 16, 2023 | Hotel
The long-awaited Aiden by Best Western @ San Antonio River Walk is almost ready for business. The pandemic, supply chain issues and budget overruns slowed things down, but the newly revamped Best Western in St. Paul Square will reopen at the end of May. A partnership...
by Kipp Gillian | May 16, 2023 | Retail
A contract manufacturer of dips, sauces, dressings and marinades has opened a 53,000-square-foot production facility in Kyle, delivering dozens of new jobs to the city south of Austin. The company said that it had outgrown its 16,000-square-foot Slaughter Lane...
by Kipp Gillian | May 16, 2023 | Hotel
Life House, a technology-driven hotel management company, has been selected to manage three new hotels in Texas: Hotel Dryce in Fort Worth, The Flats at St. Mary in San Antonio and a third property that will be announced soon. The company reported that the owners of...
by Kipp Gillian | May 16, 2023 | Hotel
Conroe thought they needed a magnet for travel and tourism, all the way back to 2015. That’s when the city council okayed roughly $80 million to build a new convention center, anchored by a Hyatt Regency. Since then, it’s gone up to $108 million. On May...
by Kipp Gillian | May 15, 2023 | Hotel
LuxUrban Hotels has signed a 25-year Master Lease Agreement, including two five-year options, to operate Hotel 57 in midtown Manhattan. The hotel, operating under the “LuxUrban Ultra” brand, is a four-star, 204-unit property on 57th Street. ...
by Kipp Gillian | May 15, 2023 | Affordable Housing
L to R: Winston Smith, Jamillah Beasley, Orlander Vick, Renee Burgess, Tony Vauss, Jonathan Gertman, Adenah Bayoh, J. David Heller, Janelle Lowery,, Kyana Woolridge, Laura Swartz, Roger Grutzmacher, Kimmel Cameron. Image courtesy of The NRP Group The NRP...
by Kipp Gillian | May 12, 2023 | Affordable Housing
461 Alabama Ave. Image courtesy of Services for the UnderServed Services for the UnderServed, CB-Emmanuel and the NYC Department of Housing Preservation and Development have opened 461 Alabama Ave., a 71-unit affordable supportive center in New York City’s Brooklyn...
by Kipp Gillian | May 11, 2023 | Affordable Housing
Allegheny Commons Apartments. Image courtesy of Yardi Matrix Community Preservation Partners has acquired the Allegheny Commons community in Pittsburgh for approximately $46.4 million. The 136-unit property is CPP’s first project in the area. The buyer expects to...
by Kipp Gillian | May 10, 2023 | Affordable Housing
Image by Scott Webb via Unsplash Nuveen, the investment manager of TIAA, has purchased a 12,000-unit affordable housing portfolio from Omni Holding Co. The price of the transaction was not disclosed, but the deal is believed to be one of the largest of this year so...
by Kipp Gillian | May 10, 2023 | Affordable Housing
800 Vine Senior groundbreaking. Image courtesy of Pennrose Co-developers Pennrose and Philadelphia Chinatown Development Corp., along with other partners, have broken ground on 800 Vine Senior, a 51-unit fully affordable and age-restricted community in Philadelphia’s...
by Kipp Gillian | May 5, 2023 | Affordable Housing
Wright Senior Apartments. Image courtesy of Greysteel Aerofirma has sold Wright Senior Apartments, a 154-unit, partially affordable senior housing community in Grand Prairie, Texas, in metro Dallas. BLDG Partners purchased the asset, according to Yardi Matrix data....
by Kipp Gillian | May 5, 2023 | Affordable Housing
The Sullivan. Image courtesy of NHE Inc A joint venture between Schaumber Development, Holliday Development and Douglass Development will soon open The Sullivan, a 180-unit affordable multifamily community near Greenville, S.C. Progress Design provided architecture...
by Kipp Gillian | May 5, 2023 | Affordable Housing
499 President St. Rendering courtesy of The Brodsky Organization The Brodsky Organization has secured construction financing for 499 President St., an upcoming multifamily community in Brooklyn’s Gowanus neighborhood. M&T Bank and the Bank of New York provided the...
